The North America liquid nitrogen market was valued at US$ 4,022.18 million in 2023 and is expected to reach US$ 6,102.70 million by 2031; it is estimated to register a CAGR of 5.3% from 2023 to 2031.
Liquid nitrogen is extensively used in various pharmaceutical applications. It acts as an organic additive for the development of generics, therapeutic medicines, and an active pharmaceutical ingredient. Nitrogen is used in its pure form or mixtures for a wide range of quality control applications, medical and nonmedical analysis, as well as to preserve living tissues and cells at cryogenic temperatures. Also, it is used to store cells at low temperatures for lab work, promession (a way to dispose of human remains through freeze drying), and cryonic preservation. Liquid nitrogen acts as a coolant; it has become a commonly used anesthetic for minor surgical procedures. For instance, liquid nitrogen is primarily used in healthcare settings to power surgical tools, medical research equipment, and other medical instruments.
Liquid nitrogen is significantly used for cryotherapy medical spas. Medical spas that offer cryotherapy use whole-body cryosaunas to submerge the clients in nitrogen gas, therefore reducing their skin temperature. Removing toxins, reducing inflammation, and enhancing circulation are among the medical advantages of liquid nitrogen in cryotherapy. It is also used to store and freeze tissues, blood, and cells at cryogenic temperatures to prevent oxidation of samples. Thus, the widespread application of liquid nitrogen in the pharmaceutical industry fuels the market growth.
The chemical and electronics & semiconductors industries are growing significantly in North America, majorly in the US. According to the US Department of Homeland Security, the market share for specialty chemicals in North America accounted for 23.4% as of 2022, which was higher than the global average. In addition, in April 2024, SAMSUNG collaborated with the Biden-Harris Administration to sign a nonbinding preliminary memorandum of terms (PMT). According to this PMT, US$ 6.4 billion will be raised in direct funding under the Science Act and CHIPS to strengthen the region's semiconductor supply chain, support advancement in technology leadership, and fuel global competition. With this collaboration, SAMSUNG is expected to invest over US$ 40 billion in the development and production of leading-edge chips in North America. Liquid nitrogen is widely used as a cryopump in cooling shields that help create an ultra-pure vacuum space where chips can be manufactured by molecular layer building via multi-beam epitaxy systems. Thus, the growing operations in the chemical and electronics & semiconductors industries in the region drive the demand for liquid nitrogen.
The North America liquid nitrogen market is categorized into manufacturing method, end-use industry, and country.
Based on manufacturing method, the North America liquid nitrogen market is bifurcated into cryogenic distillation and pressure swing adsorption. The cryogenic distillation segment held a larger North America liquid nitrogen market share in 2023.
In terms of end-use industry, the North America liquid nitrogen market is segmented into aerospace and defense, automotive, chemical, food and beverage, metal fabrication, pharmaceutical, electronics and semiconductors, and others. The metal fabrication segment held the largest North America liquid nitrogen market share in 2023.
By country, the North America liquid nitrogen market is segmented into the US, Canada, and Mexico. The US dominated the North America liquid nitrogen market share in 2023.
Linde Plc; L’Air Liquide SA; Air Products and Chemicals Inc; Praxair Technology Inc; Nippon Sanso Holdings Corp; Ube Corporation; Air Water Inc; Osaka Gas Co Ltd; Messer SE & Co KGaA; nexAir, LLC; and Matheson Tri-Gas, Inc. are some of the leading companies operating in the North America liquid nitrogen market.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 4,022.18 Million |
| Market Size by 2031 | US$ 6,102.70 Million |
| CAGR (2023 - 2031) | 5.3% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Manufacturing Method
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Liquid Nitrogen Market is valued at US$ 4,022.18 Million in 2023, it is projected to reach US$ 6,102.70 Million by 2031.
As per our report North America Liquid Nitrogen Market, the market size is valued at US$ 4,022.18 Million in 2023, projecting it to reach US$ 6,102.70 Million by 2031. This translates to a CAGR of approximately 5.3% during the forecast period.
The North America Liquid Nitrogen Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Liquid Nitrogen Market report:
The North America Liquid Nitrogen Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Liquid Nitrogen Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Liquid Nitrogen Market value chain can benefit from the information contained in a comprehensive market report.
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